Opportunities to reach new markets

- Some of the best examples of reaching out to new…segments and expanding business…within your current customer segments,…can be found in the food industry.…Who knew that we needed frozen yogurt…to take with us on the road?…Identifying customer segments and targets…can help you customize your promotional programs.…And you can adjust other parts of your marketing mix,…such as the product and pricing…to expanding new segments for growth as well.…There are a few key buckets we can consider.…Getting greater share of wallet from your current customers.…

Expanding penetration into smaller segments.…And getting nonconsumers to consume.…Let's start with growing your share…of what your current customers spend.…This can be done by adding new products,…services and features…that will be appealing to your biggest customer segment.…Let's imagine you run an airline.…And the segment you've traditionally targeted…is the business traveler.…You've liked them as customers…because they tend to buy tickets later…or make changes to their itineraries,…